How much does facilities management software cost?

Sep 27, 2022

How much does facilities management software cost?

If you want to save time, money, and effort in managing your property, it might be time to invest in some facilities management software. Many benefits come along with this investment, but it can still be hard to know how much it will cost you (or your business). This guide covers how much you should expect to pay and why paying more doesn't necessarily mean paying better.

The Low End

Good facilities management software costs $100-150 per month on the low end. This is a pretty good deal if you are starting or have a small operation. However, if you are already in business and need something robust and scalable, expect to pay $500+ per month. The cost of facility management software can range from $1k for a one-time license fee for smaller operations to over $30k annually for larger corporations with more complex needs. That said, it's worth shopping around because prices vary quite a bit. You also want to be sure that any solutions you choose will work with your existing technology (i.e., POS system).

The Mid Range

A mid-range software package typically starts at about $500 per month and can run as high as $1,000 per day. These prices are based on the size of your company's facilities, a number of employees, and how many features you want in your software. The price typically includes installation costs and one year of maintenance. However, some companies may offer lower rates if you are willing to pay an upfront fee instead of a monthly one or if you'll commit for more than a year.

The High End

A comprehensive FM system will be more expensive, but the investment is worth it. This software provides a wealth of tools and features to help any business achieve its goals. The average cost of a comprehensive FM system with all the bells and whistles is around $2,000 per month. However, this monthly fee will depend on your facility or company size. For example, if you have 50 employees or fewer, you can expect to pay less than $1,000 monthly for an effective program that suits your needs. On the other hand, if you have over 1,500 employees in one building or multiple locations, you'll likely need a higher-end system and may see costs reaching as high as $3,000+ per month. You should also note that additional charges exist for third-party vendors (security systems) and remote access service providers (cloud computing).

Choosing Features versus Cost

First, before you compare prices, be sure that you are comparing features with the same level of functionality. There is no sense in opting for a cheaper product if it does not provide the same degree of management or if it can't do what you need. The easiest way to know if two systems are comparable is by reading their feature lists side-by-side.

Second, don't forget about implementation fees and training costs. For instance, one vendor might charge $5,000 while another might charge $15,000 (or more). You may want to ensure that the price includes a software solution that your staff can learn and maintain rather than buying something they cannot use effectively.

Third, consider your company's size and needs when evaluating pricing.

Cost of ServiceNow Facilities Management Software

The cost of an FM software solution will vary depending on the specific needs of the business and the size, type, and geographic location of the facility. An enterprise may spend tens or even hundreds of thousands of dollars annually on a robust, enterprise-level solution. Smaller businesses may get by with a less expensive program that provides them with all the necessary basics. Facilities Management Software costs range from as little as $1 per square foot to $400 per square foot.

 

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